Lockton’s dedicated team of experts have more than half a century of experience in insurance placement for product recall, contaminated products (CPI), trade name restoration, and reputational risk protection. Using in-depth experience and global market reach, we’ll create a bespoke solution that helps you reduce both the chance of a recall event occurring, and the impact it has on your reputation and balance sheet.

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Product Recall and Reputational Risk

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Protecting your consumer goods business with reliable risk solutions

Amid increasing regulatory scrutiny, complex supply chains and constantly evolving technology, the risk of product recall is at an all-time high.

Lockton’s dedicated team of experts have more than half a century of experience in insurance placement for product recall, contaminated products (CPI), trade name restoration, and reputational risk protection. Using in-depth experience and global market reach, we’ll create a bespoke solution that helps you reduce both the chance of a recall event occurring, and the impact it has on your reputation and balance sheet.

Uniquely, our team is both client and market facing, allowing us to access the best value products on the market for our clients. We currently place around 150 policies into the global recall market, enabling payment of over $100m of claims in the last few years.

Utilising direct market access and long-standing insurer relationships, we’ll advocate tirelessly on your behalf to secure you the best possible deal on your cover.

What we bring to your business

Dedicated account management team - The same experienced team you meet at the beginning will be there to guide you throughout

Data-led approach - Harnessing advanced technology, we will help you pre-empt sector-specific risks and prepare for complex claims process

Unparalleled industry expertise - Many of our product recall specialists are recognised authorities in their field, and are regularly asked to contribute their knowledge in the media

Cutting-edge solutions - Product recall is a complex and dynamic line of insurance that requires deep expertise. Lockton’s experts keep up to speed on the latest technology and regulatory changes in your field, helping you stay ahead of the curve

Global capabilities - Supported by our international network of over 100 partners and subsidiaries, we provide highly-localised knowledge for any given region, so you can perfect your global risk strategy

Who we work with

We have developed specific insurance products to meet the needs of our clients across a range of industries, including:

  • Food and beverage processors, suppliers and pet food companies

  • Pharmaceutical and nutraceutical manufacturers

  • Packaging providers

  • Food service and restaurant businesses

  • Industrial component suppliers to the automotive industry

  • Consumer product manufacturers and distributors

Our team

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Freddie Schlesinger

Vice President, Product Recall & Reputational Risk
freddie.schlesinger@lockton.com

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Matt Humphries

Head of Crisis Management
matthew.humphries@uk.lockton.com
+44 7508 507 438

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Freddie Statham

Assistant Vice President, Product Recall & Reputational Risk
freddie.statham@lockton.com

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Anita Pellizzari

Product Recall Broker
anita.pellizzari@lockton.com
+44 778 841 5196

News and Insights

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The Rm Sotheby's London To Brighton Veteran Car Run Welcomes Lockton As Official Insurance Partner

A multi-year partnership with the world’s largest independent insurance brokerage for the world’s longest-running motoring event

The Royal Automobile Club is delighted to welcome Lockton as the official Insurance Partner to the RM Sotheby’s London to Brighton Veteran Car Run, the world’s longest-running motoring event and the greatest celebration of early pioneering automobiles, taking place on Sunday 5 November 2023. 
 
A multi-year partnership with the world’s largest independent insurance brokerage for the world’s longest-running motoring event

The Royal Automobile Club is delighted to welcome Lockton as the official Insurance Partner to the RM Sotheby’s London to Brighton Veteran Car Run, the world’s longest-running motoring event and the greatest celebration of early pioneering automobiles, taking place on Sunday 5 November 2023.

Why museums need a well-managed and scheduled collection

The recent theft of several objects from the British Museum has underlined the need for effective collection management among museums, galleries, and other collection-based institutions. While government-sponsored institutions will usually be covered for their losses by the state, private institutions will typically purchase commercial insurance. For such institutions, failure to demonstrate collection management best-practice could trigger negative consequences in the event of a loss, including financial or reputational damage, or less favourable insurance terms.The recent theft of several objects from the British Museum has underlined the need for effective collection management among museums, galleries, and other collection-based institutions. While government-sponsored institutions will usually be covered for their losses by the state, private institutions will typically purchase commercial insurance. For such institutions, failure to demonstrate collection management best-practice could trigger negative consequences in the event of a loss, including financial or reputational damage, or less favourable insurance terms.

Recent events create volatility for terrorism insurance

The global terrorism and political violence market has experienced increased volatility in recent years. Civil unrest in Chile, Hong Kong and South Africa generated significant losses. This was further compounded by the Russian invasion of Ukraine. In response, the market hardened quickly: insurers pushed for higher rates to offset losses, imposed more restrictive terms and adjusted their risk selection approach. Sublimits that had been available for extensions like “contingent business interruption”, “unnamed suppliers”, “service interruption” and “miscellaneous unnamed locations” were commonly excluded, as renewal negotiations became more protracted.The global terrorism and political violence market has experienced increased volatility in recent years. Civil unrest in Chile, Hong Kong and South Africa generated significant losses. This was further compounded by the Russian invasion of Ukraine. In response, the market hardened quickly: insurers pushed for higher rates to offset losses, imposed more restrictive terms and adjusted their risk selection approach. Sublimits that had been available for extensions like “contingent business interruption”, “unnamed suppliers”, “service interruption” and “miscellaneous unnamed locations” were commonly excluded, as renewal negotiations became more protracted.
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We bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.

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